Full Press Release Details
Diagnostics Announces Issuance of U.S. Patent for
and Methods for Detecting Predisposition to Cardiovascular Disease
CHICAGO, Ill - Cardio Diagnostics,
Inc. ("Cardio Diagnostics" or the "Company"), a pioneering precision cardiovascular testing company, today announced
that the U.S. Patent and Trademark Office has issued to the University of Iowa Research Foundation ("UIRF") U.S. Patent No.
11,414,704 titled COMPOSITIONS AND METHODS FOR DETECTING PREDISPOSITION TO CARDIOVASCULAR DISEASE, which is exclusively licensed to the
Company from UIRF, and that was co-invented by Cardio Diagnostics founders, Meesha Dogan, Ph.D., and Robert Philibert, MD Ph.D., the
Chief Executive Officer and Chief Medical Officer of the Company, respectively.
Cardiovascular disease ("CVD")
is the leading cause of death in the United States, accounting for 1 in 4 deaths. Within CVD, coronary heart disease ("CHD")
is the most common type of CVD and the primary driver of heart attacks. Despite being largely preventable, the American Heart Association
projects that by 2035, nearly 45% of Americans will have some form of CVD.
"Drs. Dogan and Philibert
exemplify the excellence in innovation at the heart of the University of Iowa's research," said Marie Kerbeshian, executive
director of the UIRF. "By tackling cardiovascular disease, among the deepest of challenges affecting our healthcare system, Cardio
Diagnostics and the researchers from the University of Iowa will transform the cardiovascular disease care continuum."
CHD , Cardio Diagnostics' first test and flagship product, utilizes this and other patented and proprietary technologies. Introduced
in 2021, it is a three-year symptomatic CHD risk assessment test, targeting CHD events, including heart attacks. Epi+Gen
CHD is a scientifically backed clinical
test that is based on an individual's objective genetic and epigenetic DNA biomarkers. The
Company believes Epi+Gen CHD is the first clinical test for CHD primary prevention that provides personalized insights based on
these two types of DNA biomarkers unique to every individual.
"We believe that the
issuance of this patent further strengthens Cardio Diagnostics' position as a category maker in the use of epigenetic-genetic technologies
to address the rising incidence of cardiovascular disease," stated Meesha Dogan, CEO, and co-founder of Cardio Diagnostics.
About Cardio Diagnostics,
Cardio Diagnostics is a
biotechnology company that makes cardiovascular disease prevention and early detection more accessible, personalized, and precise. The
Company aims to become one of the leading medical technology companies for enabling improved prevention, early detection and treatment
of cardiovascular disease. The Company's vision is to transform medical care for cardiovascular disease
from reactive to proactive. With prevention and early detection as the new norm, epigenetics-based technologies driven by artificial
intelligence will usher in an era of Precision Cardiovascular Testing. The Company's flagship solutions were developed in partnership
with dedicated scientists and clinicians; Cardio Diagnostics' Epi+Gen CHD test helps clinicians better assess each patient's risk
profile for cardiovascular disease.
For more information, see
About University of Iowa
Research Foundation:
University of Iowa Research Foundation is part of the University of Iowa Office of the Vice President for Research, which provides researchers
and scholars with resources, guidance, and inspiration to secure funding, collaborate, innovate, and forge frontiers of discovery that
benefit everyone. More at http://research.uiowa.edu,
and on Twitter: @DaretoDiscover.
Mana Capital Acquisition Corp.
Capital Acquisition Corp. is a blank check company formed for the purpose of engaging in a merger, stock exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. Its efforts
to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus
its search on target businesses operating in North America, Europe and Asia in the healthcare, technology, green economy, and consumer
No Offer or Solicitation
On May 31, 2022, Cardio
Diagnostics, Inc. announced that the Company had entered into a definitive business combination agreement with Mana Capital Acquisition
Corp. ("Mana Capital"). Mana Capital has filed a Form S-4 Registration Statement/proxy statement with the Securities and
Exchange Commission in connection with the proposed Business Combination.
This press release is not
a proxy statement or solicitation of a proxy, consent, or authorization concerning any securities or in respect of the proposed Business
Combination. It shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Mana Capital or Cardio Diagnostics,
nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful
before registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made
except utilizing a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Important Information and Where to Find
In connection with the proposed Business
Combination, Mana Capital has filed a registration statement on Form S-4 containing proxy materials in the form of a proxy statement
with the SEC. The Form S-4 includes a proxy statement to be distributed to holders of Mana Capital's common stock in connection
with Mana Capital's solicitation of proxies for the vote by Mana Capital's stockholders with respect to the proposed Business
Combination and other matters as described in the Form S-4, as well as the prospectus relating to the offer of securities to be issued
to Cardio Diagnostics's stockholders in connection with the proposed Business Combination.
After the Form S-4 has been declared effective, Mana Capital will mail a definitive proxy statement, when available, to its stockholders.
Investors and security holders and other interested parties are urged to read the Form S-4, any amendments thereto and any other documents
filed with the SEC carefully and in their entirety when they become available because they will contain important information about Mana
Capital, Cardio Diagnostics and the proposed Business Combination. Additionally, Mana Capital will
file other relevant materials with the SEC in connection with the Business Combination. Copies may be obtained free of charge at the
SEC's web site at www.sec.gov. Securityholders of Mana Capital are urged to read the Form S-4 and the other relevant materials
when they become available before making any voting decision with respect to the proposed Business Combination because they will contain
important information about the Business Combination and the parties to the Business Combination.
Participants in the Solicitation
Mana Capital and Cardio Diagnostics and
their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed
Business Combination under the rules of the SEC. Security holders may obtain more detailed information regarding the names, affiliations,
and interests of certain of Mana Capital's executive officers and directors in the solicitation by reading Mana Capital's
Form S-4 and other relevant materials filed with the SEC in connection with the Business Combination when they become available. Information
about the directors and executive officers of Mana Capital is set forth in Mana Capital's annual report for the year ended December
31, 2021 on Form 10-K (the "Form 10-K"), which was filed with the SEC on March 31, 2022. Information regarding
the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders in connection with the
proposed Business Combination is set forth in the Form S-4. These documents can be obtained free of charge at www.sec.gov.
Cardio Diagnostics and its directors and
executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Mana Capital in connection
with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their
interests in the proposed Business Combination is included in the Form S-4 filed in connection with the proposed Business Combination.
Forward-Looking Statements
This press release includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Mana Capital's and Cardio Diagnostics' actual results may differ from their expectations, estimates and projections and consequently,
you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts," "potential,"
"continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements
include, without limitation, Mana Capital's and Cardio Diagnostics' expectations with respect to future performance and anticipated
financial impacts of the Business Combination, the satisfaction of the closing conditions to the Business Combination and the timing
of the completion of the Business Combination. These forward-looking statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected results. Most of these factors are outside Mana Capital's and Cardio
Diagnostics' control and are difficult to predict. All forward-looking statements are based